The NZD/USD pair did almost nothing during the session on Thursday as we hovered just above a significant support level at 0.65. We feel that the market
The NZD/USD pair did almost nothing during the session on Thursday as we hovered just above a significant support level at 0.65. We feel that the market will continue to break down every time it rallies, so we are sellers of short-term rallies, not to mention a break down below the 0.65 level. We recognize that the Nonfarm Payroll Numbers come out during the session today, and that of course can bring a lot of volatility into this market. Any knee-jerk reaction to the upside should be an excellent selling opportunity as the trend is so firm.
NZD/USD Forecast August 7, 2015, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
